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    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
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    Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    Finance

    Posted By Global Banking and Finance Review

    Posted on January 2, 2025

    Featured image for article about Finance

    JERUSALEM (Reuters) - Israel's military said on Thursday its special forces raided an underground missile production site in Syria in September that it said was primed to produce hundreds of precision missiles for use against Israel by the Iranian-backed Hezbollah.

    The complex near Masyaf, in Hama province close to the Mediterranean coast, was "the flagship of Iranian manufacturing efforts in our region," Israeli military spokesperson, Lieutenant Colonel Nadav Shoshani told a briefing with reporters.

    "This facility was designed to manufacture hundreds of strategic missiles per year from start to finish, for Hezbollah to use in their aerial attacks on Israel," he said.

    He said the plant, dug into the side of a mountain, had been under observation by Israeli intelligence since construction work began in 2017 and was on the point of being able to manufacture precision-guided long-range missiles, some of them with a range of up to 300 km (190 miles).

    "This ability was becoming active, so we're talking about an immediate threat," he said.

    Details of the Sept. 8 raid have been reported in the Israeli media in recent days but Shoshani said this was the first confirmation by the military, which usually does not comment on special forces operations of this type.

    At the time, Syrian state media said at least 16 people were killed in Israeli airstrikes in the west of the country.

    Shoshani said the hours-long nighttime raid was "one of the more complex operations the IDF has done in recent years". Accompanied by airstrikes, it involved dozens of aircraft and around 100 helicopter-borne troops, who located weapons and seized documents, he said.

    "At the end of the raid, the troops dismantled the facility, including the machines and the manufacturing equipment themselves," he said, adding that dismantling the plant was "key to ensure the safety of Israel".

    Israeli officials have accused the former Syrian government of President Bahar al-Assad of helping the Lebanese-based Hezbollah movement receive arms from Iran and say they are determined to stop the flow of weapons into Lebanon.

    As Assad's government crumbled towards the end of last year, Israel launched a series of strikes against Syrian military infrastructure and weapons manufacturing sites to ensure they did not fall into the hands of its enemies.

    (Reporting by James Mackenzie; Editing by Andrew Heavens)

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